Jefferies Group Weighs in on Elevate Credit Inc’s Q1 2018 Earnings (ELVT)

Elevate Credit Inc (NYSE:ELVT) – Jefferies Group raised their Q1 2018 EPS estimates for shares of Elevate Credit in a note issued to investors on Wednesday. Jefferies Group analyst J. Hecht now forecasts that the company will post earnings per share of $0.38 for the quarter, up from their previous forecast of $0.34. Jefferies Group also issued estimates for Elevate Credit’s Q4 2018 earnings at $0.38 EPS and FY2018 earnings at $1.14 EPS.

A number of other brokerages also recently weighed in on ELVT. Maxim Group reissued a “buy” rating and issued a $10.00 price target on shares of Elevate Credit in a report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. BidaskClub raised shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a report on Saturday, October 7th. JMP Securities began coverage on shares of Elevate Credit in a report on Tuesday, December 12th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, Credit Suisse Group cut their price target on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $10.31.

Elevate Credit (NYSE:ELVT) opened at $7.74 on Friday. The firm has a market cap of $324.00 and a PE ratio of 387.00. Elevate Credit has a fifty-two week low of $5.90 and a fifty-two week high of $9.48.

Elevate Credit (NYSE:ELVT) last issued its quarterly earnings results on Monday, October 30th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $172.80 million for the quarter, compared to the consensus estimate of $175.00 million. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.25) EPS.

A number of institutional investors have recently made changes to their positions in the stock. Empyrean Capital Partners LP bought a new stake in Elevate Credit in the 2nd quarter valued at about $20,322,000. Vanguard Group Inc. bought a new stake in Elevate Credit in the 2nd quarter valued at about $1,806,000. Northern Trust Corp bought a new stake in Elevate Credit in the 2nd quarter valued at about $1,185,000. State Street Corp bought a new stake in Elevate Credit in the 2nd quarter valued at about $1,176,000. Finally, GSA Capital Partners LLP raised its stake in Elevate Credit by 912.5% in the 3rd quarter. GSA Capital Partners LLP now owns 121,500 shares of the company’s stock valued at $742,000 after acquiring an additional 109,500 shares during the period. Institutional investors and hedge funds own 52.07% of the company’s stock.

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Elevate Credit Company Profile

Elevate Credit, Inc provides online credit solutions to non-prime consumers, typically defined as those with credit scores of less than 700. The Company uses advanced technology risk analytics to provide financial options to its customers, who are not well-served by either banks or legacy non-prime lenders.

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